Hagerty value versus Reality?

What are the differences?

Maybe these aren't the 328s you're looking for?

 

LMFAO

 

A bit more info would be helpful, here. Most likely the lowest actual selling price for a 328 in reasonably good shape- no obvious damage, OK interior (even though repair/replacement might be desirable), runs OK, though most likely in need of a major service, and so on is most likely in the low $30K range; the step up for a 328 in better shape- depending on (first) condition, mileage (to a point),good service history including recent major by reputable shop- and so on might be in the high 40's to low/mid 50's or so. Asking prices vary a whole lot, and are apparently a lot higher in Europe and elsewhere than here. Color plays a role, as does the issue of GTB or GTS. The latter depends on who you ask, of course. GTB's are rarer, but for a reason- GTS's sold a lot better! Then again, some of us prefer the earlier versions without ABS (count me as one!) while others think it to be something they wouldn't leave home without. Personally I put no particular economic advantage or disadvantage either way, ABS or no ABS. I think the standard brakes work just fine; no ABS means no expensive maintenance or repairs for the system. Remember that in the end everything wears out or fails; just a matter of when & where.

So, on average, for a decent 328 I'd guess that for something like $50 K or so, you would probably be able to replace your current car, should something happen to it. Might be more, might be less.

That's the current market, as I see it. I also think that it won't be long before the actual selling prices of these cars starts to climb; who knows how far? Some say, "but they made too many of them", and so on. Well, at a worldwide population of some 7 billion humans, about 7400 or so 328's was/is hardly enough to have one in every garage, was/is it? In fact it's just about 1 for every million of us.

Even if each & every 328 ever made were somehow brought to California, my home state, that would work out to one 328 for every 5 to 6,000 Californians... a state where registered vehicles (currently 32, 903,847 ) is close to one for every one of us! That figure doesn't include the ones people own that run but are NOT registered, either...I bet that there are more than a few of those, too!

As a footnote, I'm starting to lose track of the number of people who haven't seen a 328 before ask me about mine, and how much it cost... even after telling them it's some 28 years old they guess anywhere from several hundred thousand dollars to a million or so. No kidding!

Maybe someday soon they might actually be right...?

Cheers,
Rich

 

+1.

 

Umm Hagerty well let you assign what value you place on the car. HIgher value means higher premium and they will want to see pictures of the car. What am I missing?

Lester

 

Saabguy - I think what you're missing is the OP's ref to the "Hagerty Price Guide" - probably what Hagerty calls their "Online valuation tool". That just gives what they believe to be high, medium high, medium, and low values to any particular car you want to look up. I think what you're thinking of is the "agreed value" for your car on your policy, which yes, can be nearly anything you want - if you're willing to pay the premium.

For example, the car in my avatar pic is listed anywhere from 50's to nearly 150's - depending on condition. And they use a Category 1, 2, 3, and 4 rating.

So I'm guessing the OP looked up 328s using this online valuation tool to see what he should be paying. Whether Hagerty is correct or not is up for wild debate. I think most believe them to be, shall we say, "optimistic".

FWIW, YMMV, yadda yadda.

gp

 

Laughed earlier today...laughing MAO again now! Perfect!

 

AHA!

That makes more sense. Guess I'll have to start reading the posts not just guessing at the content.

;-)

 

They are low.

Price Guide Report

I use Hagerty for several cars. No photos required. The biggest challenge is increasing the agreed value. It has to be supported with actual documented sales. For limited production cars this is a challenge.

 

Based on the condition levels in that post, I doubt if there are more than a few cars owned by folks on this site that would meet condition 2 let alone condition one. From the way it sounds to me, basically, if you USE the car, it's likely a 3 (or 4)

 

Interesting, I use Hagerty for several cars and projects. For all the cars they wanted 2 or 3 pics of specific angles. As to agreed value, so far I call and say lets change it to xx dollars, they say it will cost x dollars and I say go.

And their towing is great!

 

If Haggerty's values are optimistic, then I would like to insure my car with them. That way, if - Heaven forbid! - something would happen to it, I could get a bigger percentage of what I have invested in it.

 

They have the Average price for a glass GTB at $64,700. I wouldn't call that optimistic.

 

That made my night. Wonder how many people missed the reference?


Sent from my iPhone using Tapatalk

 

That's awesome! Still made me laugh this morning on day two!

 

Hagerty does not like 328's. Interesting contrast when reading market commentary verses Porsche of the same era. Lots of gushing about well bought 911's and treating high end 328 sales as an anomaly.
That said, selling price on very good 80's Carreras and 328's have been significantly higher than Hagerty indicates. Given the rapid rise of value, data appears to be lagging.

Let's just say we would like to avoid any Imperial entanglements.

 

Well, again, my guess is that one could start at around $50K for a nice, average car, well maintained with no accident records, a recent major service (within the last year), good tires, good paint, something like 30K miles. More miles, down a bit, perhaps, less miles, be careful of not enough miles to keep the beastie in good running order (after all 30K miles is only around 1000 miles per year! Undamaged but faded paint can often be buffed out nicely, but a paint job done correctly might cost some $10K, depending on color (metallics are tricky!). A major service might cost some $5~7K or so, plus any deferred maintenance or repair. Some items that fail on a regular basis are pretty darn expensive- for example, the turn signal switch has an infamous failure rate, and can cost upwards of $2K to replace or repair. Mine did!

So put it all together, and what you have is this: The cost of the car, plus tax, PLUS whatever it costs to make it in correctly maintained, good condition, including the interior,which can also cost a bunch. So if you buy a car for $45K, then put another $15K into it, now you have a $60K car, not a $45K car! So, if you pay substantially more than the assumed average of $50K for a 328, it ought to reflect very good service records, without the need for expensive servicing or restoration such as paint, upholstery, etc. to bring it up to the condition one would expect such a car to be in.

I hope this added response helps.

Also don't forget that JC Taylor is also a classic/vintage car insurer. I was with them for a long time and had no complaints.

Their contact info is:


By Mail:
JC Taylor Antique Auto Agency Inc.
320 S. 69th st
Upper Darby, PA 19082

By Phone:
(800) 345-8290

Cheers,
Rich

 

37K-40K for a 328 that could win a car show is bit low to me...Well you can check for yourself: Concorso Italiano is coming next month, maybe you approach them 328 car owners and offer them these numbers for their shiny 328's and let us know

 

If I buy their GT/4 numbers I'll have to up coverage yet again this year.

 

Although their #'s are low for the 328, they become irrelevant once you have an agreed value.

This isn't the only model that doesn't fit their price guide. There's a long ongoing thread in the lambo section on this for your reading pleasure

Hagertry has a good reputation in many circles, YMMV.